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there are some risks in automated trading but it is better to check with several demo accounts and if you cannot check it is better to check with a low balance. try to get reliable automated trading software. and the risks & advantages are there, then the need to choose the right EA with the same settings is right. You have to understand how EA works to make it work more in your favor. But then, there's a lot of nonsense out there, so you have to be careful about that matter
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Well I think manual trading is good because I have tried automated traders they always trade as if they put buy trades and others put sell on the same size lot and if the trade will disappear it keeps putting losses in trading I don't think it's profitable on automatic trader. and Not all Automatic trades only open BUY and SELL at the same time (Hedge / Lock) That depends on their logic behind the EA. However, many EAs work in various ways, not only ...
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I tested the results on real account data and history, I believe H1 is not the best TF for this EA and M30 is the best TF for all couples. It fell many times in the European Union but not GU. The results are very good with some advanced settings. I have several amendments to this EA, with stop loss and news filters, I test all the modified versions that will be shared later.
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I can't use robots to trade. I think it's better to rely on yourself. who rely on ourselves so we can analyze it correctly and be successful in trade. and trading robots is functioning, but the most important thing is, forex robots will never win against the market, because the market is not dynamic so the only thing you should know is all about manual trading with a good trading system
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I have never used EA before, but I have heard some really work well and have seen the results of one online that gives a lot of money and if I look good it might consider using it because it is a strategy programmed in there EA. But I think EA will work well if it is monitored and in the past I have experience using robots, my robot's profit ratio is 60.40%, I have 60% loss and 40% profit. I think robots never trade well when the market is silent. robots only follow the indicators they make. if anyone wants to use a robot. then it must use a robot when the market is in a zig zag situation
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In the right settings, it's good to have a bot that we can use to trade. Much faster and gives us more time to do analysis than focusing on our delayed and open positions. Bot is a tool. That's what we need to understand. Bots are not a substitute for human traders. Bots are a human trader tool to make trading much easier and faster.
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Because Robot traders have no emotions, they can trade with discipline full of all rules. Unlike humans, automated trading systems will never be misled by greed, fear, doubt, and inconsistency. It is only traded by being programmed, not affected by the psychology of traders. It performs based on the criteria and discipline set. Obviously, this reduces the risk of panic trading. The only drawback is that he only does technical analysis, does not consider fundamental analysis in decision making.
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generally even fundamental analysis does not provide benefits all the time, in my opinion the best way to guarantee profits all the time is robots, so I recommend using robots in your trade better than you using manual trading and fundamental analysis and we all know that Forex trading is not new things on the market; actually, it has been there for years now. I hope the Automatic system is good for online trading. In Moment banks or any financial institution, go into an online & automated system to increase their business internationally. so I like this system. because it's very good for business.
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I do not recommend automatic trading because so far I have seen that the forex market works mainly on news, when there is news prices change rapidly and when there is no price the news does not move so much. Because automated trading cannot respond well if there are large variations, we must avoid it. and If what you mean by automated trading is trading using robots, I'm not against people who use this method to trade but for me I can't recommend it because I don't use it and my simple reason is because I want to know everything I need to know about trading manually and successfully.
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I prefer manual trading. Since I am a beginner, I prefer to use manual trading so I can learn about forex trading first before I use EA.robot for support or secondary accounts, manual for primary accounts, no need for robots if you are a full day trader, you might need robots and vps if not. Trading manually is better than using a robot, because trading with the manual aspect I haven't found a robot that suits me. I suggest using the manual. This advice from a beginner huh? that's true but for people who lack knowledge about forex.